Update: Irresponsible Lending Complaint Against Amex – Refund of interests and charges

PanAction25

I raised a complaint against Amex for irresponsible lending, and the investigator has now issued their draft decision.

They concluded it wouldn’t be fair for Amex to refund all interest and charges dating back to September  2017. Instead, they’ve recommended that Amex:

• Refund all interest and charges from April 2019 onwards

• If Amex chooses to record negative information on my credit file, it should be backdated to April  2019

Additionally, the decision states:

If removing all interest, fees, and charges means there’s no longer an outstanding balance, then any surplus should be treated as overpayments and refunded to me, along with 8% simple interest on those overpayments.

The draft has now been sent to Amex. I’m currently waiting to see whether they accept the decision or escalate it to the Ombudsman for a final ruling.

Has anyone else had a similar experience with Amex or a case that went to the Ombudsman? Would be helpful to hear how it played out.

MyRealNameToo

PanAction25 said:

Has anyone else had a similar experience with Amex or a case that went to the Ombudsman? Would be helpful to hear how it played out.

Any case that goes to an ombudsman goes onto their website in an anonymised format so you can see other cases for yourself. Have you looked there?


Two such cases:
https://www.financial-ombudsman.org.uk/decision/DRN-4188028.pdf
https://www.financial-ombudsman.org.uk/decision/DRN-4201636.pdf

ManyWays

The problem is you dont see all the investigator decisions that Amex has accepted, so by only looking at the "difficult" cases you miss the common ones. 

Neither of "two such cases" are very similar at all, as this is a case when the lending decision was over 6 years ago and FOS seems to be suggesting a refund for the last 6 years.

PanAction25

PanAction25 said:

MyRealNameToo said:

PanAction25 said:

Has anyone else had a similar experience with Amex or a case that went to the Ombudsman? Would be helpful to hear how it played out.

Any case that goes to an ombudsman goes onto their website in an anonymised format so you can see other cases for yourself. Have you looked there?


Two such cases:
https://www.financial-ombudsman.org.uk/decision/DRN-4188028.pdf
https://www.financial-ombudsman.org.uk/decision/DRN-4201636.pdf

I have checked those cases but I just wanted to gauge the likelihood of Amex appealing the investigator’s draft decision.   The investigator looked at account from 2017 (more than 6 years ago) but decided that it’s not fair to ask Amex to refund all interest given the facts of the case. But it would be fair for Amex to refund from 2019 onwards. 

The draft decision in my case is a 6 page document. I never missed any payments from 2017 until February 2025 so it looks like I might be getting missed payments recorded from 2025 onwards removed. 

I have checked those cases but I just wanted to gauge the likelihood of Amex appealing the investigator’s draft decision.   The investigator looked at account from 2017 (more than 6 years ago) but decided that it’s not fair to ask Amex to refund all interest given the facts of the case. But it would be fair for Amex to refund from 2019 onwards. 

The draft decision in my case is a 6 page document. I never missed any payments from 2017 until February 2025 so it looks like I might be getting missed payments recorded from 2025 onwards removed. 

PanAction25

PanAction25 said:

I raised a complaint against Amex for irresponsible lending, and the investigator has now issued their draft decision.

They concluded it wouldn’t be fair for Amex to refund all interest and charges dating back to September  2017. Instead, they’ve recommended that Amex:

• Refund all interest and charges from April 2019 onwards

• If Amex chooses to record negative information on my credit file, it should be backdated to April  2019

Additionally, the decision states:

If removing all interest, fees, and charges means there’s no longer an outstanding balance, then any surplus should be treated as overpayments and refunded to me, along with 8% simple interest on those overpayments.

The draft has now been sent to Amex. I’m currently waiting to see whether they accept the decision or escalate it to the Ombudsman for a final ruling.

Has anyone else had a similar experience with Amex or a case that went to the Ombudsman? Would be helpful to hear how it played out.

Debt, Stress & Recovery – What I Learned from My AMEX Complaint

At the start of this year, I was in a difficult place—stressed, overwhelmed by debt, and close to a breakdown. What helped me stay grounded were the stories of others who had faced similar battles and found a way through. One that stayed with me was @eleanorl89 post https://forums.moneysavingexpert.com/profile/eleanorl89 .  She described feeling suicidal under the weight of £60,000 in debt, family breakdown, and the fear of losing her home. Her honesty reminded me that behind every debt figure is a person trying to hold their life together. @eleanorl89  courage gave me also courage to share. 

After raising a complaint with AMEX, the Financial Ombudsman Service (FOS) upheld my case. The remedy included:

• Refund of Interest & Fees: AMEX must remove all charges from April 2019 onward. Based on my statements, the refund is estimated between £8,000 and £9,500.

• Repayment Plan if Needed: If a balance remains after adjustments, AMEX must contact me to arrange a fair repayment plan.

• Credit File Correction: AMEX began reporting missed payments from February 2025. However, the FOS instructed them to backdate any adverse credit entries to April 2019. Since missed payment markers only stay on a credit file for six years, anything dated April 2019 is now outside the reporting window and should be automatically removed. Because I had no missed payments before 2025, this effectively clears my credit file of any negative history.

• Collection Activity Halted: AMEX must buy back the debt from external solicitors and stop further escalation.

One learning: the FOS didn’t include compensation for the distress caused by referral to collectors during the complaint process. I’m now raising that separately with AMEX.

If you’re feeling trapped under debt, please know you’re not alone. The stress is real, and it can affect your health, relationships, and sense of self. But there are ways forward. Be mindful of credit limit increases—they often feel like relief, but they can deepen the problem. And if you feel something’s unfair, challenge it. The process takes time, but fair outcomes are possible.

Stay persistent. Your wellbeing is worth the fight.